I’m entering into care lease for a teenaged pony. She is valued at 5000 usd. Lease has provision for mortality insurance. I’d be responsibility for vet care and diagnostics but there isn’t a limit. The pony will be kept at my cousins house. I would appreciate any suggestions about things that I need to consider. Also looking for mortality insurance in Massachusetts.
Have a limit in mind. Diagnostics can be pricey. Also have a clear plan in place for an emergency.
Discuss diet, treatment in case of laminitis, standard of care, etc.
Come to an agreement on updates as well. I try to send them to my lease horses owner every few months, plus I send report from vet 2x a year that he is in good health.
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Congratulations on your new lease.
It might be hard to get mortality insurance after a certain age so you might want to call around and see what your options are.
Lots of good information in the post above.
Get everything in writing. How to end the lease. How they can end the lease.
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I did a care lease for a very old pony from a good vet-tech friend of mine for my stepdaughter. This pony is worth his weight in gold but and I love my friend dearly but I insisted we sketch out, in advance, what care and costs I was responsible for. Thankfully this friend and I have known each other 25 years and have very similar views on care, so that did help.
We were in different states so I had a plan in place that in the event there was a serious emergency where I needed to ship to a surgical center I would call her in route and I had a detailed list of who to call if I could not reach her on her cell or at work. Our nearest surgical center is 2.5 hours north of me, and about an hour south of her, so she would have been able to meet there. I also agreed that while it was my judgement to call a vet out, as a courtesy I would notify her as soon as possible just so she was aware something was going on.
I covered all daily meds, incidental vet visits (ex: he got a puffy eye and I called the vet out, so I covered the visit and meds for that.) vaccines, wormers, feed, farrier, replacing his blankets, halters, an over abundance of treats, all things with blue sparkles, etc.
I included an out of the lease where, in the event she wanted to perform medical care beyond what I was willing/able to provide (I believe we had a dollar amount limit), she could immediately terminate the lease. I truly don’t think we would have ever had a disagreement about that sort of thing but having it in writing was smart anyway.
I think one thing that was helpful was we had a lot of “what-if” discussions ahead of time. Knowing the pony was 30 (but still sound and feisty!) we talked about scenarios that could happen and what we would hypothetically decide on. For example, we both agreed we would not want to put him through a colic surgery at that age should he need one.
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Mortality insurance on a horse of that age and assessed value might be tricky. You can put in for online quotes from some of the major companies, and a good broker should be able to help you comparison shop too.
I would talk to the owner about what maintenance they expect/would expect you to cover. What two people consider “basic” care for a teenaged horse can be very different, especially when one of them isn’t paying for it. Also have a plan for what to do in an emergency and who makes the decision on things like surgery or euthanasia if the worst case scenario happens.
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I’d second those who’ve said that it might be hard to get mortality insurance on a horse of that age (or it might be very pricey).
You should be clear with the owner about what “normal” vet bills you are expected to cover, and what routine maintenance (special shoes, supplements, etc.) you’re supposed to cover. Get it in writing.
Also get in writing under what circumstances you or the owner can terminate the lease.
Enjoy your new lease horse!
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Bascule I believe does coverage up until (or through?) 18 years old. Try Foy insurance (in NH but agents in MA.)
I’ve done lease arrangements a few times now. Twice the lessee carried the insurance, more recently as the lessor I carried the coverage.
In the previous leases, I as the lessor covered my horses routine vet expenses, but lessee was responsible for any emergency or elective care costs. In my recent one, lessee is responsible for all costs, and may open an insurance claim with the policy I have opened- and then their own if desired. If they get to the point of being unable or unwilling to proceed with diagnostics/treatment beyond the deductible + insurance coverage amounts, they could terminate the arrangement, horse returns to me, and any decisions about vet care (and corresponding bills) from that point forward, would be my responsibility.
The owner of your new lease horse needs to put into clear writing what their expectations are for care & costs. Hope for the best but plan for the worst.
If the horse is valued at $5,000, and you get a $5,000 mortality policy & $5,000 major medical/surgical coverage, what happens if a colic ends up being $10,000? Will they want to pay out of pocket themselves to keep a treasured horse alive, will they expect you to pay $5k out of pocket, or would they accept euthanizing if insurance said “sorry the services exceed the horse’s insurable value & coverage”?
If the horse goes lame, x-rays & ultrasounds don’t show anything conclusive, so you move onto an MRI with clinic-stay, you’re approaching $5,000 on diagnostics (which might or might not be covered by insurance.) Can you return the horse & wash your hands of things, or will you be responsible for continued diagnostic/treatment costs because the lameness presented while in your care?
If the owner is not someone you’re familiar with, I’d want an emergency contact for a life or death emergency- horse puts themself through a fence or something catastrophic. If owner cannot be reached, is there someone they want you to reach out to if they are not responding to your texts/calls/emails while the clock ticks?
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